Opening a Bank Account in Dubai: Requirements and Process Explained

Key takeaways

• Dubai banks follow strict KYC/AML rules issued by the Central Bank of the UAE (CBUAE). Expect thorough checks on identity, address, employment/income, and sources of funds.
• Residents can typically open current or savings accounts; non-residents are usually limited to savings or call accounts with extra conditions.
• Core documents: passport, UAE visa & Emirates ID (if resident), proof of address, and salary proof. Banks may ask for additional evidence.
• For companies: trade licence, MOA/AOA, UBO details, board resolution/POA, and signatory IDs are standard.
• Every UAE account is issued an IBAN, required for local and cross-border transfers.

Eligibility & account types

Most major banks in Dubai (e.g., Emirates NBD, ADCB, FAB, Mashreq, Dubai Islamic Bank) offer:

• Current accounts (chequebook, debit card) — mainly for residents.
• Savings/call accounts — available to residents and often to non-residents (features vary).
• Multi-currency accounts — for AED and major FX currencies.
• Digital-first accounts — fully app-based onboarding (e.g., Mashreq Neo, DIB alt).

Required documents (personal & business)

Personal (resident) accounts

• Original passport + copy
• UAE residence visa & Emirates ID (or application/biometrics slip during issuance)
• Proof of UAE address (Ejari/tenancy contract or recent utility bill)
• Salary proof (salary transfer letter, certificate, or recent payslips)

Examples & official checklists: ADCB, Emirates NBD, Emirates Islamic.

Personal (non-resident) accounts

• Passport (mandatory)
• Proof of overseas address (utility bill/bank statement, typically last 2–3 months)
• Recent overseas bank statements (often 2–6 months)
• A short written explanation of purpose (e.g., investments, property ownership, frequent travel)
• In-person branch visit is commonly required; features may be limited (no chequebook, higher minimums).

See media and bank guidance for non-resident options and limits: Gulf News guide, plus bank pages linked above.

Business (corporate) accounts

• Valid trade licence (mainland or free zone) / certificate of incorporation
• MOA/AOA and any amendments
• Board resolution or Power of Attorney authorising account opening & operators
• UBO (ultimate beneficial owner) details & registers per UAE rules
• Passport/Emirates ID/visa for shareholders, directors, and authorised signatories
• Proof of business address (Ejari/tenancy) and, where applicable, recent bank statements & business profile

Official/primary references: Emirates NBD business docs · ADCB business FAQ · Mashreq business checklist (PDF).

Step-by-step process (personal accounts)

1. Choose a bank & account (current vs savings; AED vs multi-currency; branch vs digital onboarding).
2. Prepare documents exactly as listed by your chosen bank (links above). Scan clear, colour copies.
3. Apply via mobile app/website or visit a branch. Complete KYC questionnaires honestly.
4. Verification: the bank may call, request extra documents, or ask for in-person biometrics.
5. Approval & IBAN: once approved, you receive your IBAN and can activate digital banking and your debit card.

Tip: Digital-first options like Mashreq Neo or DIB alt can shorten onboarding for eligible residents.

Non-resident accounts in Dubai

Non-residents can usually open savings or call accounts with stricter due diligence and higher balances. Banks often ask for proof of overseas address and income and may require an in-person visit for final checks.

Business (corporate) accounts

After licensing your UAE entity, open a corporate account to receive payments, pay suppliers/staff, and stay compliant with bookkeeping and corporate tax filings. Most banks follow a similar KYC flow but differ in sector appetite, minimum balances, and FX/cash-management tools.

Core compliance

• AML/CFT & CDD: UAE banks must perform customer due diligence and ongoing monitoring under CBUAE guidelines.
• Beneficial ownership (UBO): keep UBO registers updated in line with Cabinet Resolution No. 58 of 2020.

Good to know: For layered shareholder structures (holding companies, foreign parents), banks will request upstream corporate docs and UBO evidence.

Fees, minimum balances & IBAN

• Minimum balances and relationship fees vary by bank and account tier. Check each bank’s “Schedule of Fees”.
• Transfers: IBAN is mandatory for AED and cross-border transfers in the UAE. Your bank assigns your IBAN at account opening.
• Multi-currency options are common; compare FX margins if you receive foreign currency.

See fee pages and IBAN guidance: ADCB fees · CBUAE IBAN.

Timelines & common reasons for rejection

Personal accounts: same-day to a few days (digital) or 1–2 weeks (branch). Business accounts: 1–4+ weeks depending on risk profile and completeness of documents.

• Unclear source of funds or purpose of account
• Gaps/mismatches in address or employment evidence
• Complex ownership without UBO clarity
• High-risk activities or jurisdictions without strong supporting docs

Practical tips to improve approval odds

• Match application details to your passport, visa and tenancy records exactly.
• Prepare 3–6 months of clean bank statements (personal or company) showing income history.
• Bring a brief written summary of income sources and expected monthly activity (helps the KYC interview).
• For companies, prepare a one-page business profile and simple org chart with UBO percentages.
• Use the bank’s document checklist, not a generic list—policies differ and change.

FAQ

References (official & bank pages)

• Central Bank of the UAE — AML/CFT Guidelines · IBAN · UBO (Cabinet Resolution 58/2020)
• Emirates NBD — Documents to open an account · Business account docs
• ADCB — Current account: documents · Fees · Business FAQ
• Mashreq — Neo (digital onboarding) · Business checklist (PDF)
• Dubai Islamic Bank — Open an account in minutes
• Non-resident overview — Gulf News guide